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Sectoral / Thematic · DSP Mutual Fund · AMFI code 153121DSP Business Cycle Fund
Disclosed for 22 months, Dec 2024 to Sep 2026.
Portfolio value
₹1,138 Cr
up ₹13.7 Cr vs Aug 2025
- Stocks held
- 49
- unchanged
- Top 10 weight
- 44.3%
- of the portfolio in its ten largest
- Cash & debt
- 6.9%
- cash, money market and debt
- Moves this month
- 0 in · 0 out
- added to 10, trimmed 25
DSP Business Cycle Fund is an active equity fund in the Sectoral / Thematic category from DSP Mutual Fund. In September 2025 it disclosed 49 stocks worth ₹1,138 Cr, up ₹13.7 Cr from Aug 2025. Its largest positions were State Bank of India (5.7%), Power Grid Corporation of India Limited (5.6%), NTPC Limited (5.3%); the ten largest together made up 44.3% of the portfolio, and Banks was the biggest sector at 17.4% of its equity. Cash and debt stood at 6.9%. Compared with Aug 2025 the fund entered 0 new stocks and exited 0.
Against 226 other Sectoral / Thematic funds
Concentration
44%
Top-10 weight is higher than 44% of peers
Breadth
62%
Holds more stocks than 62% of peers
Cash
86%
Holds more cash than 86% of peers
Holdings in September 2025
Download CSVEvery line the fund disclosed, with the change against Aug 2025. Click a column to sort; click a company to see every fund that owns it.
- Cash, TREPS & receivables
- Weight
- 6.92%
- Δ weight
- down 0.80 pts
- Value
- ₹78.7 Cr
- Δ value
- down ₹8.1 Cr
- Status
- Trimmed
- Weight
- 5.70%
- Δ weight
- up 0.39 pts
- Value
- ₹64.8 Cr
- Δ value
- up ₹5.2 Cr
- Status
- Added
- Weight
- 5.63%
- Δ weight
- up 0.03 pts
- Value
- ₹64.1 Cr
- Δ value
- up ₹1.1 Cr
- Status
- Added
- Weight
- 5.28%
- Δ weight
- up 0.14 pts
- Value
- ₹60 Cr
- Δ value
- up ₹2.3 Cr
- Status
- Added
- Weight
- 4.55%
- Δ weight
- up 0.30 pts
- Value
- ₹51.8 Cr
- Δ value
- up ₹4 Cr
- Status
- Added
- Weight
- 4.54%
- Δ weight
- up 0.25 pts
- Value
- ₹51.6 Cr
- Δ value
- up ₹3.4 Cr
- Status
- Added
- Weight
- 4.35%
- Δ weight
- up 0.18 pts
- Value
- ₹49.5 Cr
- Δ value
- up ₹2.6 Cr
- Status
- Added
- Weight
- 4.11%
- Δ weight
- down 0.13 pts
- Value
- ₹46.7 Cr
- Δ value
- down ₹90 L
- Status
- Trimmed
- Weight
- 3.85%
- Δ weight
- down 0.15 pts
- Value
- ₹43.8 Cr
- Δ value
- down ₹1.2 Cr
- Status
- Trimmed
- Weight
- 3.26%
- Δ weight
- up 0.01 pts
- Value
- ₹37.1 Cr
- Δ value
- up ₹60 L
- Status
- Added
- Weight
- 3.05%
- Δ weight
- up 0.28 pts
- Value
- ₹34.8 Cr
- Δ value
- up ₹3.5 Cr
- Status
- Added
- Weight
- 2.64%
- Δ weight
- down 0.13 pts
- Value
- ₹30 Cr
- Δ value
- down ₹1.1 Cr
- Status
- Trimmed
- Weight
- 2.40%
- Δ weight
- up 0.09 pts
- Value
- ₹27.3 Cr
- Δ value
- up ₹1.3 Cr
- Status
- Added
- Weight
- 2.32%
- Δ weight
- down 0.04 pts
- Value
- ₹26.4 Cr
- Δ value
- down ₹15 L
- Status
- Trimmed
- Weight
- 2.15%
- Δ weight
- down 0.17 pts
- Value
- ₹24.5 Cr
- Δ value
- down ₹1.7 Cr
- Status
- Trimmed
- Weight
- 2.06%
- Δ weight
- up 0.10 pts
- Value
- ₹23.5 Cr
- Δ value
- up ₹1.5 Cr
- Status
- Added
- Weight
- 1.90%
- Δ weight
- down 0.05 pts
- Value
- ₹21.6 Cr
- Δ value
- down ₹33 L
- Status
- Trimmed
- Weight
- 1.86%
- Δ weight
- down 0.05 pts
- Value
- ₹21.2 Cr
- Δ value
- down ₹35 L
- Status
- Trimmed
- Weight
- 1.71%
- Δ weight
- down 0.17 pts
- Value
- ₹19.5 Cr
- Δ value
- down ₹1.6 Cr
- Status
- Trimmed
- Weight
- 1.63%
- Δ weight
- down 0.05 pts
- Value
- ₹18.6 Cr
- Δ value
- down ₹34 L
- Status
- Trimmed
- Weight
- 1.63%
- Δ weight
- down 0.01 pts
- Value
- ₹18.5 Cr
- Δ value
- up ₹9 L
- Status
- Held
- Weight
- 1.55%
- Δ weight
- down 0.06 pts
- Value
- ₹17.7 Cr
- Δ value
- down ₹48 L
- Status
- Trimmed
- Weight
- 1.54%
- Δ weight
- up 0.13 pts
- Value
- ₹17.5 Cr
- Δ value
- up ₹1.7 Cr
- Status
- Added
- Weight
- 1.48%
- Δ weight
- up 0.10 pts
- Value
- ₹16.9 Cr
- Δ value
- up ₹1.4 Cr
- Status
- Added
- Weight
- 1.47%
- Δ weight
- down 0.05 pts
- Value
- ₹16.7 Cr
- Δ value
- down ₹32 L
- Status
- Trimmed
- Weight
- 1.45%
- Δ weight
- up 0.09 pts
- Value
- ₹16.4 Cr
- Δ value
- up ₹1.2 Cr
- Status
- Added
- Weight
- 1.32%
- Δ weight
- up 0.38 pts
- Value
- ₹15 Cr
- Δ value
- up ₹4.5 Cr
- Status
- Added
- Weight
- 1.27%
- Δ weight
- down 0.03 pts
- Value
- ₹14.4 Cr
- Δ value
- down ₹21 L
- Status
- Trimmed
- Weight
- 1.19%
- Δ weight
- up 0.06 pts
- Value
- ₹13.6 Cr
- Δ value
- up ₹83 L
- Status
- Added
- Weight
- 1.18%
- Δ weight
- down 0.16 pts
- Value
- ₹13.4 Cr
- Δ value
- down ₹1.6 Cr
- Status
- Trimmed
- Weight
- 1.14%
- Δ weight
- down 0.03 pts
- Value
- ₹13 Cr
- Δ value
- down ₹23 L
- Status
- Trimmed
- Weight
- 1.10%
- Δ weight
- down 0.03 pts
- Value
- ₹12.5 Cr
- Δ value
- down ₹18 L
- Status
- Trimmed
- Weight
- 1.08%
- Δ weight
- down 0.05 pts
- Value
- ₹12.3 Cr
- Δ value
- down ₹42 L
- Status
- Trimmed
- Weight
- 1.07%
- Δ weight
- up 0.01 pts
- Value
- ₹12.2 Cr
- Δ value
- up ₹21 L
- Status
- Added
- Weight
- 0.98%
- Δ weight
- up 0.01 pts
- Value
- ₹11.1 Cr
- Δ value
- up ₹23 L
- Status
- Added
- Weight
- 0.98%
- Δ weight
- down 0.05 pts
- Value
- ₹11.1 Cr
- Δ value
- down ₹40 L
- Status
- Trimmed
- Weight
- 0.95%
- Δ weight
- down 0.07 pts
- Value
- ₹10.8 Cr
- Δ value
- down ₹62 L
- Status
- Trimmed
- Weight
- 0.87%
- Δ weight
- up <0.01 pts
- Value
- ₹9.9 Cr
- Δ value
- up ₹14 L
- Status
- Added
- Weight
- 0.86%
- Δ weight
- up 0.01 pts
- Value
- ₹9.8 Cr
- Δ value
- up ₹22 L
- Status
- Added
- Weight
- 0.86%
- Δ weight
- down 0.13 pts
- Value
- ₹9.7 Cr
- Δ value
- down ₹1.3 Cr
- Status
- Trimmed
- Weight
- 0.78%
- Δ weight
- up 0.03 pts
- Value
- ₹8.9 Cr
- Δ value
- up ₹44 L
- Status
- Added
- Weight
- 0.77%
- Δ weight
- down 0.05 pts
- Value
- ₹8.8 Cr
- Δ value
- down ₹48 L
- Status
- Trimmed
- Weight
- 0.76%
- Δ weight
- down 0.02 pts
- Value
- ₹8.6 Cr
- Δ value
- down ₹8 L
- Status
- Trimmed
- Weight
- 0.72%
- Δ weight
- down 0.03 pts
- Value
- ₹8.2 Cr
- Δ value
- down ₹28 L
- Status
- Trimmed
- Weight
- 0.72%
- Δ weight
- up 0.04 pts
- Value
- ₹8.2 Cr
- Δ value
- up ₹52 L
- Status
- Added
- Weight
- 0.55%
- Δ weight
- down 0.03 pts
- Value
- ₹6.2 Cr
- Δ value
- down ₹27 L
- Status
- Trimmed
- Weight
- 0.55%
- Δ weight
- down 0.03 pts
- Value
- ₹6.2 Cr
- Δ value
- down ₹28 L
- Status
- Trimmed
- Weight
- 0.50%
- Δ weight
- up 0.03 pts
- Value
- ₹5.7 Cr
- Δ value
- up ₹43 L
- Status
- Added
- Weight
- 0.37%
- Δ weight
- down 0.07 pts
- Value
- ₹4.2 Cr
- Δ value
- down ₹78 L
- Status
- Trimmed
- Weight
- 0.35%
- Δ weight
- up <0.01 pts
- Value
- ₹4 Cr
- Δ value
- up ₹10 L
- Status
- Added
- TVS Motor Company Ltd.Other
- Weight
- 0.03%
- Δ weight
- down <0.01 pts
- Value
- ₹32 L
- Δ value
- up ₹0 L
- Status
- Held
What changed, Aug 2025 to Sep 2025
New New positions (0)
None.
Exited Exited (0)
None.
Added Biggest additions
- State Bank of Indiaup ₹5.2 Cr (+0.39% pts)
- Gland Pharma Limitedup ₹4.5 Cr (+0.38% pts)
- Axis Bank Limitedup ₹4 Cr (+0.30% pts)
- Amber Enterprises India Limitedup ₹3.5 Cr (+0.28% pts)
- Mahindra & Mahindra Limitedup ₹3.4 Cr (+0.25% pts)
Sectors
Which sectors the fund is moving towards and away from, and where its money sits now. Shares are of the fund’s classified equity holdings, so they add up to 100%.
Where the weight moved
Compared with
Since Aug 2025, the weight rose most in Banks (+0.5 pts) and Automobiles (+0.3 pts), and fell most in IT - Software (−0.6 pts) and Healthcare Services (−0.2 pts).
- Banks16.9% → 17.4%+0.5 pts
- Automobiles7.2% → 7.5%+0.3 pts
- Capital Markets7.2% → 7.4%+0.2 pts
- Industrial Products5.7% → 5.9%+0.2 pts
- Pharmaceuticals & Biotechnology6.0% → 6.2%+0.2 pts
- Auto Components2.4% → 2.5%+0.1 pts
- IT - Software9.2% → 8.6%−0.6 pts
- Healthcare Services5.2% → 4.9%−0.2 pts
- Chemicals & Petrochemicals2.7% → 2.4%−0.2 pts
A sector’s weight changes when the fund buys or sells, and also when its shares rise or fall in price, so a change is not by itself a sign of buying or selling.
Main sectors’ weights over time
| Sector | Mar 2025 | Jun 2025 | Aug 2025 | Sep 2025 |
|---|---|---|---|---|
| Banks | 19.2% | 17.6% | 16.9% | 17.4% |
| Power | 10.7% | 11.9% | 11.6% | 11.7% |
| IT - Software | — | 9.2% | 9.2% | 8.6% |
| Automobiles | 8.3% | 6.6% | 7.2% | 7.5% |
| Capital Markets | 6.6% | 8.2% | 7.2% | 7.4% |
| Consumer Durables | 8.8% | 6.4% | 6.8% | 6.8% |
| Pharmaceuticals & Biotechnology | 8.2% | 5.5% | 6.0% | 6.2% |
| Industrial Products | 6.2% | 5.9% | 5.7% | 5.9% |
| Healthcare Services | 5.3% | 4.7% | 5.2% | 4.9% |
| Electrical Equipment | 2.3% | 2.1% | 2.9% | 3.0% |
Allocation in Sep 2025change vs Aug 2025
- Banks (4)17.4%▲ 0.5 pts
- Power (2)11.7%
Cash and debt
The share of the portfolio not in shares: cash and net receivables, money-market instruments and bonds, as disclosed each month. Cash can dip below zero when payables, often on derivative positions, exceed it. A change here describes what the fund did; it is not a signal.
Cash & debt, Sep 2025
6.9%
▼ 0.8 pts vs Aug 2025
- Cash alone
- 6.9%
- cash and net receivables
- A year earlier
- —
- no disclosure
- Last 12 months
- 5.4% – 45.8%
- lowest to highest · record 45.8% in Dec 2024
History
Disclosed portfolio value by month, with the stocks the fund entered and exited against its previous disclosure. Every month is a link to that portfolio.